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Core equivalence in collective-choice bargaining under minimal assumptions

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  • Tomohiko Kawamori

    (Meijo University)

Abstract

We investigate a collective-choice bargaining model under minimal assumptions. In this model, the set of alternatives is arbitrary; each player’s utility function is nonnegative-valued; the decision rule is monotonic; the probability of each player’s being recognized as a proposer depends only on the tuple of actions in the previous round; any player is perfectly patient. We show that for any alternative, it is in the core if and only if there exists a stationary subgame perfect equilibrium (SSPE) such that it is proposed by every player and implemented with certainty.

Suggested Citation

  • Tomohiko Kawamori, 2021. "Core equivalence in collective-choice bargaining under minimal assumptions," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(2), pages 259-267, October.
    • Handle: RePEc:spr:etbull:v:9:y:2021:i:2:d:10.1007_s40505-021-00210-2
    DOI: 10.1007/s40505-021-00210-2
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    References listed on IDEAS

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    1. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January.
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    More about this item

    Keywords

    Collective choice; Decision rule; Core; Bargaining; Perfect patience; Stationary subgame perfect equilibrium;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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